[You must show your computation for Question 01-03]Question 01The PoseCorporation manufactures custom-made purses. The following data pertains to Job XY5:Direct materials placed into productionDirect labor hours workedDirect labor rate per hourMachine hours worked$4.00050 hoursS1S100 hoursFactory overhead is applied using a plant-wide rale based on direet labor hours. Factory overhead was budgeted at$80,000 for the year and the direct labor hourlavere estimated to be 20,000 Job XY5 consists of 50 units.What is the materials cost per unit for Job XYSQuestion 0263%28°CW

As per accounting definition Factory overheads include expenses which are related to factory such as…

Answered: Question 01 The Pose Corporation…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Job Costs Using a Plantwide Overhead Rate Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $180,000, and budgeted direct labor hours were 18,000. The average wage rate for direct labor is expected to be $20 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow: Job 39 Job 40 Job 41 Job 42 Beginning balance $25,500 $34,100 $17,600 $800 Materials requisitioned 16,900 20,400 8,500 13,000 Direct labor cost 8,000 17,500 3,150 3,900 Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 120 percent of cost. (Naranjo had originally developed Job 40 to order for a customer; however, that customer was near bankruptcy and the chance of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in inventory while the customer worked out its financial difficulties. Job 40 is the only job in Finished Goods Inventory.) Jobs…
Just trying to figure out the standard hours!
The following are ABC co's production cost for the month of October: Direct Materials P100,000 Direct Labor 90,000 Factory Overhead 4,000 1. The total manufacturing cost? 2. The prime cost? 3. The conversion cost? 4. The cost than can traced to specific product in production process?
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Answer question D
Huxtabie charges manutacturing overhead to products by using a predelermned appicaton rate, comped on the basis of machine hours. The tolowing data pertain to the curent year Budgeted manufacturing overhead $470,000 Actual manutacturing overhead $ 428 900 Budgeted machine hours 23.500 Actual machine hours 18530 Overhead applied to production totaied $33800 $536600 $370.600 some other ahount
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Problem 18: Predetermined Factory Overhead believes that the company would be better if it will use two factory overhead single factory overhead rate that is based on machine hours. Its manager Davao Corp. uses job order costing system to produce its products. It uses a rates, one based on material costs and the other one is based machine hours. The following data are for year 2020: Materials related Factory overhead Machine related Factory overhead Total Budgeted Factory overhead Costs of materials used on jobs Total Machine hours Data related to three jobs worked on in December follow: Material Costs Direct Labor Costs Machine Hours used Job # 1 168,000 128,000 68,000 Budgeted FOH 3,840,000 10,400,000 14,240,000 Job # 2 656,000 104,000 36,000 Job Order Costing 12,800,000 1,600,000 Job # 3 312,000 144,000 23,200 Actual factory overhead related to materials was P318,400 and actual factory overhead related to machine hours was P846,400. Required: 1. Determine the predetermine factory…
ob Costs Using a Plantwide Overhead Rate Naranjo Company designs industrial prototypes for outside companies. Budgeted overhead for the year was $332,500, and budgeted direct labor hours were 19,000. The average wage rate for direct labor is expected to be $35 per hour. During June, Naranjo Company worked on four jobs. Data relating to these four jobs follow: Job 39 Job 40 Job 41 Job 42 Beginning balance $22,700 $33,700 $18,600 $1,300 Materials requisitioned 20,500 20,200 13,800 15,700 Direct labor cost 11,600 17,300 8,450 6,600 Overhead is assigned as a percentage of direct labor cost. During June, Jobs 39 and 40 were completed; Job 39 was sold at 110 percent of cost. (Naranjo had originally developed Job 40 to order for a customer; however, that customer was near bankruptcy and the chance of Naranjo being paid was growing dimmer. Naranjo decided to hold Job 40 in inventory while the customer worked out its financial difficulties. Job 40 is the only job in Finished Goods…
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if job 10 consists of 50 units of product, what is the unit cost of this job?
Robin Company has the following balances for the current month: Direct materials used $ 8,500 Direct labor $20,900 Sales salaries $10,500 $ 1,870 $ 6,070 $ 9,230 $ 4,650 Indirect labor Production manager's salary Marketing costs Factory lease What is Robin's total manufacturing overhead? Multiple Choice $17,170 $29,400 $12,590 $9,230

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